DAILY: New mine shutdowns in Shaanxi reignite concerns over thermal coal supply

China's spot thermal coal prices held steady for a sixth consecutive session on July 29, but market sentiment jumped amid renewed supply concerns after four coal mines in Yulin, the largest producing hub in Northwest China's Shaanxi province, were ordered to suspend operations the same day. This could provide a fresh catalyst for a market that has already begun to show signs of strengthening.

On Wednesday, Mysteel assessed 5,500 kcal/kg NAR thermal coal at northern ports at Yuan 825/tonne ($121.7/t) FOB with VAT, unchanged for a sixth straight day. The 5,000 kcal/kg NAR grade held at Yuan 735/t and the 4,500 kcal/kg NAR grade at Yuan 642/t, both flat from a day ago. Yulin's